Resource X Is Necessary to the Production of Good Y

question 73

Multiple Choice

Resource X is necessary to the production of good Y.If the price of resource X falls,the equilibrium price of Y will ______________ and the equilibrium quantity of Y will ________________.

• A) rise; rise
• B) fall; fall
• C) fall; rise
• D) rise; fall

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Definitions:

Reaction Formation

Reaction formation is a psychological defense mechanism in which an individual acts in a manner opposite to their actual feelings or desires.

Defense Mechanism

A psychological strategy unconsciously used to protect a person from anxiety arising from unacceptable thoughts or feelings.

Anal Stage

In Freudian psychology, a phase of child development characterized by focus on anal functions and the resultant conflicts.

Obedience

The act of following orders or directions from authorities or rules, a fundamental aspect in the study of social psychology.